Offences
- Misleading or deceptive conduct
- False or misleading representations
- False or misleading representations in relation to financial products that involve interests in land
- Cash price to be stated in certain circumstances
- Offering rebates, gifts, prizes etc
- Certain misleading conduct in relation to financial services
- Bait advertising
- Referral selling
- Accepting payment without intending or being able to supply as ordered
- Pyramid selling of financial products
- Unsolicited credit cards and debit cards
- Assertion of right to payment for unsolicited financial services etc.
- Assertion of right to payment for unauthorised advertisements
- Power of Court to prohibit payment or transfer of money or other property
- Examination to take place in private
- Examinee’s lawyer may attend
- Record of examination
- Giving to other persons copies of record
- Copies given subject to conditions
- ASIC may inspect books without charge
- Notice to produce books about affairs of body corporate or registered scheme
- Notice to auditors concerning information and books
- Notice to registered liquidators concerning information and books
- Notice to produce books about financial products
- Notice to produce books about financial services
- Notice to produce documents in person’s possession
- ASIC may authorise persons to require production of books, giving of information etc.
- Powers where books produced or seized
- Powers where books not produced
- Power to require person to identify property of body corporate
- ASIC may give copy of book relating to registered scheme to another person
- ASIC may give information and books in relation to Chapter 5 bodies corporate
- Acquisitions and disposals of financial products
- Acquisitions and disposals of trust property by trustee companies
- Exercise of certain powers of ASIC in relation to financial products
- Exercise of certain powers of ASIC in relation to trust property acquired or disposed of by trustee company
- Disclosures to take place in private
- Lawyer of person making disclosure may attend
- ASIC may cause prosecution to be begun
- Who may be present when hearing takes place in private
- Power to summon witnesses and take evidence
- Contempt of ASIC
- Concealing books relevant to investigation
- Legal professional privilege
- Notification of interests to ASIC
- Confidentiality
- Power to summon witnesses and take evidence
- False evidence
- Contempt of Panel
- Hearings
- Hearings
- Contempt of Disciplinary Board
- Financial Reporting Council’s information gathering powers
- Offences committed partly in and partly out of the jurisdiction
- S.12GB Offences against Subdivision D (Unconscionable conduct and consumer protection in relation to financial services)
- S.12GBCG Civil proceedings after criminal proceedings
- S.12GC Enforcement and recovery of certain fines against Subdivision D (Unconscionable conduct and consumer protection in relation to financial services)
- S.12GI Defences (Unconscionable conduct and consumer protection in relation to financial services)
- 12GLB ASIC Act Punitive orders requiring adverse publicity (Unconscionable conduct and consumer protection in relation to financial services)
- Part 3B Australian Securities and Investments Commission
- ASIC 19 Notice requiring appearance for examination (and the procedure)
- s.68 Australian Securities and Investments Commission
- s.69 Australian Securities and Investments Commission
- s.91 Australian Securities and Investments Commission
- 223 Australian Securities and Investments Commission
- 258 Australian Securities and Investments Commission
Power of Court to prohibit payment or transfer of money or other property
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Offence title: |
Power of Court to prohibit payment or transfer of money or other property |
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Act: |
12GN Australian Securities and Investments Commission Act |
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Offence: |
(1) If proceedings under 12GB, an application under 12GD for an injunction, an action under 12GF(1) or an application under 12GM(2) or (3) or 12 GNB(1), have been commenced or made, on application by the minister or ASIC, the court may make an order per ss.(2) if satisfied it is necessary to preserve money or property of the person subject to the proceedings or application (however described) to bhe able to pay for fines, damages, compensation, refund or otherwise to transfer, sell or refund other property.; and if it will not unduly prejudice the rights of the other person. (2) The orders referred to above are: (a) An order prohibiting the debt to another, whether in part or totally; (b) An order prohibiting the person holding money or property for another from payout out any or all of the money or disposing of property; (c) An order prohibiting the money or property being sent out of the State or Territory where it is held; (d) An order prohibiting the money or property being sent out of the State or Territory where it is held to an associate of the relevant person; (e) An order appointing a receiver or trustee to the holder of the property, with such powers specified in the order. (3) Subject to ss. (4), the order may be expressed to operate for a s specified period; or until proceedings under this Part are concluded. (4) An order made ex parte cannot operate for more than 30 days. (5) A person who contravenes or fails to comply with an Order commits an offence. (6) Nothing in this section limits the court’s powers. (7) This section is subject to the Bankruptcy Act. (8) A reference in this section in the Act, is: a person holding property for the relevant person, or if a corporate, a wholly owned subsidiary of the relevant person.
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Penalty: |
200 penalty units |
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Summary/Indictable/mixed: |
Summary |
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Jurisdiction: |
Local Court |
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How committed: |
Where person A has fraudulently obtained money under a land contract and person A has been restrained from dealing with that money, it would an offence for person A to send the money to person B in another State. |
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Important note: |
Limitation period: 3 years |